Sushiswap is a DEX protocol that has retained its position among the top 3 DEX platforms in terms of Total Value Locked. Sushiswap has been able to whitewash its notorious image created due to its anonymous founder, Chef Nomi decided to trade all the ETH held in the development fund worth ~$13 Million on Sep 5, 2020, which ultimately tanked the Sushi prices by more than 70% in one day. However, Chef Nomi, later returned his holdings and apologised to the community.
Sushiswap, in recent times, is trying hard to expand its ecosystem and serve the traders and investors to trade on its platform. This can be validated by the fact that Sushiswap has integrated its protocol with highly scalable and high-performance blockchains such as Solana and Polygon to nullify the impact of gas fees on Ethereum and thereby diluting the entrance barriers on its platform.
On the Daily Time Frame, Sushiswap has been trading in a Range Pattern with the lower and upper band present at $8.8 and $21.7 respectively.
If the price tends to sustain in the pattern, the current levels is the best place to accumulate due to lower downside risk while huge room exists to travel to the higher side. The immediate support and resistance are present at $8.8 and $13 respectively.
With (0.27) Market Cap/TVL Ratio, it seems lucrative and undervalued given the present circumstances.
Sushiswap, in recent times, is trying hard to expand its ecosystem and serve the traders and investors to trade on its platform. This can be validated by the fact that Sushiswap has integrated its protocol with highly scalable and high-performance blockchains such as Solana and Polygon to nullify the impact of gas fees on Ethereum and thereby diluting the entrance barriers on its platform.
On the Daily Time Frame, Sushiswap has been trading in a Range Pattern with the lower and upper band present at $8.8 and $21.7 respectively.
If the price tends to sustain in the pattern, the current levels is the best place to accumulate due to lower downside risk while huge room exists to travel to the higher side. The immediate support and resistance are present at $8.8 and $13 respectively.
With (0.27) Market Cap/TVL Ratio, it seems lucrative and undervalued given the present circumstances.